B.P. Marsh reveals potential insurance deals

B.P. Marsh reveals potential insurance deals | Insurance Business Australia

Insurance News

B.P. Marsh reveals potential insurance deals

At least three opportunities currently under consideration

Insurance News

By
Terry Gangcuangco

B.P. Marsh & Partners Plc, which is part owner of more than 10 brokers and managing general agents, is currently considering at least three insurance deals.

In a London Stock Exchange filing, B.P. Marsh chief investment officer Daniel Topping said: “Current opportunities under consideration include, but are not limited to, the following: a start-up MGA/underwriting agency looking to specialise in underwriting marine lines; an established broker that specialises in insurance for high net worth clients and fine art & specie lines; and a specialist Lloyd’s start-up broker.

“In view of the group’s favourable cash position, we remain prepared to take advantage of opportunities emanating from the financial services industry generally and the insurance market specifically.”

With the exception of independent financial adviser LEBC, B.P. Marsh’s investments are in the insurance intermediary space. According to the specialist investor, it has equity interests in the following companies:

Company

Jurisdiction

Equity % at January 31, 2023

Ag Guard PTY Limited

Australia

41%

Asia Reinsurance Brokers (Pte) Limited

Singapore

25%

ATC Insurance Solutions PTY Limited

Australia

25.6%

CBC UK Limited

47.1%

Denison and Partners Limited

40%

The Fiducia MGA Company Limited

35.2%

LEBC Holdings Limited

59.3%

Lilley Plummer Risks Limited

30%

Sage Program Underwriters, Inc.

30%

Sterling Insurance PTY Limited

Australia

19.7%

Stewart Specialty Risk Underwriting Ltd

Canada

30%

XPT Group LLC

28.5%

Insurance Business excluded Criterion Underwriting (Pte) Limited, which is not trading at present, and Kentro Capital Limited, which recently got sold to Brown & Brown, Inc. Meanwhile, in April, B.P. Marsh acquired a 35% cumulative preferred ordinary shareholding in London-based MGA Verve Risk Services Limited.

In the year ended January 31, 2023, B.P. Marsh’s profit on ordinary activities after taxation attributable to equity holders grew 36.4% to £23.8 million.

What do you think about this story? Share your thoughts in the comments below.